The Buffalo Sabres and Tyler Myers have agreed to a seven-year contract, according to the club.
The Sabres announced the deal on the eve of training camp through their Twitter feed. The club did not provide financial details, but multiple reports suggest it will be for $38.5 million US in total, with Myers to be paid a whopping $12 million for the 2012-13 season.
"I'm very excited today to solidify a long-term spot and be a part of this organization as it grows," Myers said. "It's somewhere I want to be for the rest of my career. And I'm still young."
Myers is entering the last season of his entry level deal, which has a base salary of just under $900,000.
The six-foot-seven defenceman won the Calder Trophy in 2009-10 with a stellar rookie season that included 11 goals, 37 assists and a plus-13 rating, and the Sabres wasted no time in locking him up a year before his three-year rookie deal expired.
"We wanted to recognize Tyler not only for his abilities now, but his abilities in the future," said general manager Darcy Regier, who opened talks only two weeks ago. "It has been nothing short of a terrific start to what I think will be an outstanding career."
Myers, 21, struggled at times last season after the Sabres parted with veteran defenders like Toni Lydman and Henrik Tallinder, but still managed respectable totals of 10 goals, 27 assists and an even rating.
Born in Texas and raised in Calgary, Myers has missed just two games through two NHL seasons.
The Sabres have bolstered their blue-line in the offseason by acquiring Robyn Regehr in a trade with Calgary, and signing Christian Ehroff to a mammoth deal.
Myers was among a number of young Group 2 restricted free agents who entered September without new contracts. His deal could have implications for his former junior hockey teammate Luke Schenn (Toronto), as well as Drew Doughty (Los Angeles), both of whom are still unsigned.